URI Schemes
In cryptocurrency, Uniform Resource Identifier (URI) schemes are used to define a standard way of identifying and interacting with resources like cryptocurrency addresses, transactions, or payment requests. These schemes are similar to URI schemes used in web addresses but are specifically designed for cryptocurrency-related actions. They allow users to easily share payment requests, addresses, or transaction details in a standardised format that wallets and applications can understand and process. (Some wallets and services use a generic ‘crypto’ URI scheme that can be used with multiple cryptocurrencies.)
URI schemes are commonly used in QR codes for mobile payments and in links on websites to facilitate cryptocurrency transactions. Both Bitcoin and Ethereum use URIs to represent addresses and transactions.
Key Takeaway
Cryptocurrency URI schemes are used to define a standard way of identifying and interacting with resources like cryptocurrency addresses, transactions, or payment requests.